Virtualized Evolved Packet Core Market
InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the “Global Virtualized Evolved Packet Core Market- (By Offerings (Solutions(Virtualized Packet Gateway, Virtualized Mobility Management Entity (vMME), Policy and Charging Rules Function (PCRF)), Services (Consulting and Advisory Services, System Integration and Deployment Services, Maintenance and Support Services)), Deployment Mode (On-Premises, Cloud-based), By Network Type (LTE, 5G), By End-User (Telecommunication Service Providers, (Mobile Network Operators (MNOs), Virtual Network Operators (VNOs)), Enterprises (Manufacturing (Healthcare, Transportation and Logistics)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031.”
According to the latest research by InsightAce Analytic, the Global Virtualized Evolved Packet Core Market is valued at US$ 7.04 Bn in 2022, and it is expected to reach US$ 30.36 Bn by 2031, with a CAGR of 17.8% during a forecast period of 2023-2031.
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The concept of Network Function Virtualization (NFV) involves the virtualization of capabilities within an Evolved Packet Core (EPC). This approach facilitates the implementation of a framework, known as a Virtual Evolved Packet Core (vEPC), which is responsible for the processing and switching of speech and data in mobile networks. The vEPC framework has been applied in the context of 4G LTE mobile networks and is expected to have a substantial impact on the development of the forthcoming 5G network. Mobile operators have the potential to tailor networks to cater to the individual requirements of diverse clients by strategically combining various network components.
It supports wireless broadband, non-3GPP standards, 2G, 3G, and the 5G core network. It is a mobile-core network system that supports LTE access systems and is run on software-defined networking (SDN) and a carrier-grade virtualization platform.
The Virtualized Evolved Packet Core plays a critical role in the evolution of mobile networks, enabling greater flexibility, scalability, and cost-efficiency, which are essential for supporting the growing demands of mobile data traffic and emerging 5G services.
List of Prominent Players in the Virtualized Evolved Packet Core Market:
• ZTE Corporation (China)
• Cisco Systems Inc. (U.S.)
• Telefonaktiebolaget LM Ericsson SE (Sweden)
• Affirmed Networks Inc. (U.S.)
• Mavenir Systems Inc. (U.S.)
• Huawei Technologies Co. Ltd. (China)
• Samsung Electronics Co. Ltd. (South Korea)
• Tecore Inc. (U.S.)
• Nokia Corporation (Finland)
• Parallel Wireless Inc. (U.S.)
• F5 Networks Inc. (U.S.)
• NEC Corporation (Japan)
• IPLOOK Technologies Co Ltd (China)
• Polaris Networks (U.S.)
• Athonet SRL (Italy)
• LEMKO Corporation (U.S.)
• Metaswitch Networks (U.K.)
• Intel Corporation (U.S.)
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Market Dynamics:
Drivers-
The main drivers of the upsurge in mobile data traffic are the dynamic mix and the expanding number of wireless devices connecting to mobile networks worldwide. Due to the rising use of smartphones and the accessibility of low-cost, high-speed network connections, mobile data traffic is growing globally.
Challenges:
Nearly all global industries have been badly impacted by the COVID-19 pandemic’s advent. The supply chain for networking equipment and electrical components has also been impacted by lockdown enforcements in many nations and limits on the transit of non-essential products and resources. As a result, the supply of electronic components needed to make network equipment has been delayed. Due to the dangerous effects of the COVID-19 epidemic, South Korean electronics giant Samsung Electronics anticipates a slowdown in 5G expenditures in the second quarter of the year.
Regional Trends:
The North America Virtualized Evolved Packet Core market is expected to record a major market share due to the existence of large telecom companies. Mobile operators use their networks, including wireless broadband, machine-to-machine (M2M), & the Internet of Things (IoT). The U.S. government intends to make the Citizens Broadband Radio Service (CBRS) band available to commercial operators and businesses in 2018. This move will serve as a driver for the growth of vEPC solutions in the enterprise market. The market in this region is expanding as a result of the increasing demand for VoLTE and the rising use of multimedia services.
Recent Developments:
• In Feb 2023, Nokia and Comcast have jointly revealed plans to utilise Nokia’s 5G software and support services. This collaboration aims to equip Comcast with the necessary tools to offer enhanced connectivity experiences to its Xfinity Mobile and Comcast Business Mobile clients in various regions throughout the United States..
• In Feb 2019, Intel unveiled the Intel® FPGA Programmable Acceleration Card N3000 (Intel® FPGA PAC N3000), which has been specifically developed for service providers with the aim of facilitating the implementation of 5G next-generation core and virtualized radio access network solutions. The Intel FPGA PAC N3000 is capable of enhancing the performance of various virtualized workloads, encompassing a wide range of applications such as 5G radio access networks and core network applications..
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Segmentation of Virtualized Evolved Packet Core Market-
By Offerings-
• Solutions
o Virtualized Packet Gateway
o Virtualized Mobility Management Entity (vMME)
o Policy and Charging Rules Function (PCRF)
• Services
o Consulting and Advisory Services
o System Integration and Deployment Services
o Maintenance and Support Services
Deployment Mode
• On-Premises
• Cloud-based
By Network Type-
• LTE
• 5G
By End-User-
• Telecommunication Service Providers
o Mobile Network Operators (MNOs)
o Virtual Network Operators (VNOs)
• Enterprises
o Manufacturing
o Healthcare
o Transportation and Logistics
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa
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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
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This release was published on openPR.
